Global AI In Virtual Reality And Augmented Reality Market Projected to Surpass $387.34 Billion by 2029 with 46.4% Annual Growth

What combination of drivers is leading to accelerated growth in the ai in virtual reality and augmented reality market?
The anticipated surge in IoT (Internet of Things) devices is predicted to stimulate the advancement of AI in the virtual reality and augmented reality market. IoT devices are essentially physical devices equipped with sensors, software, and connectivity capabilities, which allow them to gather and share data with other devices or systems online, thereby creating the Internet of Things (IoT) ecosystem. These devices are powered by interconnected networks that facilitates smooth communication and data transfer among devices and systems. The incorporation of AI in virtual reality and augmented reality could leverage the potentials of IoT devices by propelling a more captivating and intuitive user experience, optimizing data analysis, promoting predictive maintenance, advancing context-aware engagements, facilitating remote monitoring and management, and ameliorating training and simulation capabilities. For example, in March 2023, the GSM Association, a non-profit organization based in the UK, projected that the number of IoT connections would more than double from 2021 to 2030, hitting a grand total of 37.4 billion. Consequently, the rise in the number of IoT devices is accelerating the progression of AI in the virtual and augmented reality market.

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What is the projected compound annual growth rate (CAGR) of the ai in virtual reality and augmented reality market from 2025 to 2034, and what factors influence it?
The market size for artificial intelligence in virtual and augmented reality has enormously expanded in the past few years. There's a predicted growth from $57.37 billion in 2024 to $84.23 billion in 2025, showing a compound annual growth rate (CAGR) of 46.8%. The surge in the previous period can be linked to the progressive advancements in computer vision, enhancement in machine learning algorithms, developments in natural language processing (NLP), the expansion of cloud computing, and the emergence of edge computing.

In the coming years, the market for artificial intelligence in virtual reality and augmented reality is predicted to undergo immense growth. With a compound annual growth rate of 46.4%, the market is set to surge to $387.34 billion by 2029. The market expansion during this period can largely be linked to the growth of AI-fueled social interactions, customised content recommendations, improved gesture and voice recognition techniques, and the creation of realistic environments by AI. In addition, the utilization of AI in healthcare and therapeutic applications is also contributing to this surge. The major trends for the forecast duration comprise AI-managed virtual assistants in VR or AR, AI-enhanced virtual fitting experiences, object recognition and interaction boosted by AI, fusion of AI and AR smart glasses, and immersive storytelling powered by artificial intelligence.

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How are the latest trends influencing the growth of the ai in virtual reality and augmented reality market?
Key players in the AI in virtual and augmented reality markets are employing innovation to create groundbreaking assisted reality glasses to enhance their consumer's experience. Assisted reality glasses, also known as smart glasses, are wearable devices that enhance a user's perception of the physical environment by incorporating digital information, graphics, and visuals to their field of view. For example, in February 2024, Oppo, a consumer electronics firm from China, introduced their new product, the OPPO Air Glass 3. This product includes real-time information through a full-color display within the lenses of the glass. This cutting-edge pair of assisted reality glasses comes with Oppo's AndesGPT, a voice assistant powered by their large language model (LLM). Designed for everyday use, these glasses allow users to see digital content like messages or navigation maps overlaid on their actual environment. Functionality of the Air Glass 3 is hinged on connectivity to an Oppo smartphone and can be manipulated via touch sensors on the side of the frame.

What are the major segments of the ai in virtual reality and augmented reality market and their role in driving growth?
The AI in virtual reality and augmented reality market covered in this report is segmented -

1) By Type: Artificial Intelligence-Powered Virtual Reality (VR), Artificial Intelligence-Enhanced Augmented Reality (AR)
2) By Technology: Natural Language Processing (NLP), Computer Vision, Machine Learning, Deep Learning, Gesture Recognition, Speech Recognition, Simulated Environments
3) By Platform: Mobile Devices, Head-Mounted Displays (HMDs), Projectors And Smart Glasses, Wearables And Body Tracking Devices, Desktop Computers And Consoles
4) By Application: Gaming And Entertainment, Education And Training, Healthcare And Medical, Retail And E-commerce, Real Estate And Architecture, Automotive And Transportation, Tourism And Travel, Social Media And Communication, Industrial And Manufacturing, Military And Defense

Subsegments:
1) By Artificial Intelligence-Powered Virtual Reality (VR): AI-Driven VR Content Creation, Personalized VR Experiences, AI In VR Training And Simulation, Real-Time AI Interaction In VR
2) By Artificial Intelligence-Enhanced Augmented Reality (AR): AI-Powered Object Recognition, AI-Driven AR Navigation And Mapping, Real-Time AI Data Overlay, AI In AR Retail And Shopping Experiences

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Which regions are key players in the growth of the ai in virtual reality and augmented reality market?
North America was the largest region in the AI in virtual reality and augmented reality market in 2024. The regions covered in the AI in virtual reality and augmented reality market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the ai in virtual reality and augmented reality market?
Major companies operating in the AI in virtual reality and augmented reality market report are Apple Inc.; Alphabet Inc.; Samsung Electronics Co. Ltd.; Microsoft Corporation; Meta Platforms Inc.; Sony Corporation; Lenovo Group Limited; Intel Corporation; Qualcomm Incorporated; NVIDIA Corporation; Dassault Systemes SE; PTC Inc.; Sixense Enterprises Inc.; Magic Leap Inc.; HTC Corporation; EON Reality Inc.; Daqri LLC; Zappar Ltd.; Scope AR; Vuzix Corporation; Upskill; Avegant Corporation; Atheer Inc.; Cognixion; Marxent Labs LLC

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What Is Covered In The AI In Virtual Reality And Augmented Reality Global Market Report?

• Market Size Forecast: Examine the ai in virtual reality and augmented reality market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in virtual reality and augmented reality market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in virtual reality and augmented reality market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in virtual reality and augmented reality market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in virtual reality and augmented reality market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in virtual reality and augmented reality market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in virtual reality and augmented reality market.
• Competitive Landscape: Review strategic developments in the ai in virtual reality and augmented reality market, including expansions, agreements, and new product launches.

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